Factors of production：练习题

• a.

  Enterprise is rewarded with wages.

• b.

  Land is rewarded with profit.

• c.

  Capital is rewarded with interest.

• d.

  Labour is rewarded with rent.

• a.The purchase of advanced computer systems by the country's major banks.
• b.An increase in the total number of people available for work in the economy.
• c.An improvement in the skills and productivity of the workforce through education.
• d.The discovery of new mineral deposits within the national borders.

• a.Labour is fixed in the short run, while human capital can only be increased in the very long run through natural population growth.
• b.Labour earns interest as a reward, while human capital is rewarded with rent from land ownership.
• c.Labour refers to the number of workers available, while human capital refers to the quality and skills of those workers.
• d.Labour is a physical resource, whereas human capital is a financial asset used to purchase machinery.

• a.

  fixed and non-reproducible.

• b.

  highly elastic, increasing rapidly with rising rent.

• c.

  infinite and subject to diminishing returns only in the short run.

• d.

  variable, depending entirely on government reclamation projects.

• a.

  Physical capital is subject to depreciation, whereas human capital is not.

• b.

  Human capital refers to the acquired skills embodied in labor, while physical capital refers to tangible, produced tools and infrastructure.

• c.

  Physical capital is rewarded with interest, whereas human capital is rewarded only with profit.

• d.

  Human capital can be utilized by multiple firms simultaneously, while physical capital is exclusive to a single firm.

先自己写一遍答案，再对照解题步骤。

先自己写一遍答案，再对照解题步骤。